India Glycols up 11%

India Glycols is currently among the top five gainers on the BSE; opening over 10% higher at Rs.774, the stock price rose to an intraday high at Rs.780.70, up 11%.

The stock price surged on its announcement that it has been allocated quantities through tender(s) participation for supply of 16.55 crore liters of Ethanol with an estimated value aggregating to Rs. 1,164 cror eunder Ethanol Blended Petrol Programme (“EBPP”) during Ethanol Supply Year from 1st November, 2023 till 31st October, 2024.

Of this total order of 16.55 litres, OMCs – BPCL, IOCL, HPCL, have placed an order to the tune of 12.80 litres worth Rs.896 crore and balance 3.75 litres order is from oil companies – Reliance Inds and Nayara Energy, worth Rs.268 crore.